The Tata Group and Singapore's Changi Airport have joined hands to bid for several upcoming airport development projects in India. The Tata-Changi consortium proposes to bid for Greater Noida and Navi Mumbai airport projects up for bids soon, besides 35 non-metro airports planned for development.
The Tata-Changi Airport consortium has already bid for three airport projects in Karnataka, for which the Karnataka governent had invited expressions of interest last month. The three airports are Shimoga, Gulbarga and Bijapur. This was revealed by Changi Airports International India vice-president Tim Peng in Mumbai on Monday.
Tata Real Estate and Changi Airport hold 51% and 49% stakes respectively in the consortium to build airports.
This is the Tata group's first entry into airport development ever since the Indian government opened airport development to the private sector. The Tata group are the pioneers of aviation in India.
The Tatas' aborted bid in the last decade to launch an airline saw the group staying off the aviation sector for quite some time. Despite the airline boom in India, the Tata Group refused to be drawn into the sector. However, recently the Tatas made a small entry into the aviation sector by picking up a stake in low-cost carrier SpiceJet. The Tata group has termed the Spicejet holding as a financial, not strategic investment. The airport business foray will be the second step the Tatas will be taking in the aviation industry.
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The Tata-Changi Airport consortium has already bid for three airport projects in Karnataka, for which the Karnataka governent had invited expressions of interest last month. The three airports are Shimoga, Gulbarga and Bijapur. This was revealed by Changi Airports International India vice-president Tim Peng in Mumbai on Monday.
Tata Real Estate and Changi Airport hold 51% and 49% stakes respectively in the consortium to build airports.
This is the Tata group's first entry into airport development ever since the Indian government opened airport development to the private sector. The Tata group are the pioneers of aviation in India.
The Tatas' aborted bid in the last decade to launch an airline saw the group staying off the aviation sector for quite some time. Despite the airline boom in India, the Tata Group refused to be drawn into the sector. However, recently the Tatas made a small entry into the aviation sector by picking up a stake in low-cost carrier SpiceJet. The Tata group has termed the Spicejet holding as a financial, not strategic investment. The airport business foray will be the second step the Tatas will be taking in the aviation industry.
Discuss
Add this link to...
Tell a friend
Bury
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